Christmas Day – Perfect Timing For Tax!
As millions of people enjoyed Christmas Day festivities in 2022, it was the perfect time for 3,275 people to file their Self Assessment tax return, HMRC has revealed. A total of 22,060 customers went online to submit their self assessment for the 2021 to 2022 tax year between 24 and 26 December 2022, and 141 […]
Warning: Self Assessment Taxpayers Being Scammed
HMRC is warning that self assessment taxpayers are being aggressively targeted by crooks after more than 570,000 scams were reported to HMRC in the last year. In the 12 months to January 2022, nearly 220,000 scams reported to HMRC offered bogus tax rebates. At this time of year, self assessment customers are at increased risk of falling victim […]
Self Assessment Late Payment Costs Increase
As HMRC interest rates are linked to the Bank of England base rate, the increase in the base rate from 0.25% to 0.5% on 3 February 2022 has triggered an increase in rates for late payments. HMRC have confirmed that late payment interest rates will increase from 21 February 2022. This means that anyone that […]
Don’t Be Fooled By Self Assessment Deadline ‘Extension’
HMRC has announced that they are giving “self assessment taxpayers more time to ease COVID-19 pressures” and the date of 28 February 2022 is being suggested as a newly extended deadline to submit your tax returns by. (Instead of the usual deadline of 31 January.) However, please don’t be fooled by the inaccurate headlines that […]
HMRC’s Self-Assessment Backlog
If, like most people, you haven’t yet submitted your annual self-assessment (due by 31 January 2022) then you may want to know that HMRC currently has a backlog of admin relating to this important task. There are delays in HMRC processing the following: Registrations for self assessment; Applications to authorise an agent to deal with […]
007: Hints & Tips in Completing Your Annual Self-Assessment Tax Return
Today we’re talking to Emily Coltman, Chief Accountant at FreeAgent about completing your annual self-assessment tax return. Emily has many years experience of supporting self-employed people and small businesses in their accountancy requirements, and she shares with us some of her advice, hints and tips for completing your self-assessment, including: What actually is self-assessment? What […]